Microsoft will release a cheaper Xbox One this year, a well-respected source has told VG247, apparently confirming the many rumors that were leaked earlier. Microsoft has told trusted publishing partners that it will release a new model Xbox One before the end of the year. Although the source was unable to confirm that the system will be disc-less and feature a bluetooth adaptor, the new console will be priced cheaper than the current $499 model.

This would put the Xbox One right at the PS4's magical price point. Microsoft hasn't commented on any of the leaks released this week, and they probably won't be commenting on a cheaper SKU anytime soon.